📈 FaZe Clan is going public

From trickshotting to the NASDAQ

Hey Waivly Crew! 🌊 Professional esports and entertainment organization FaZe Clan is going public with a $1 billion valuation. Tesla has hit a new all-time high after Hertz ordered 100,000 of its vehicles.

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Faze Clan to go public in $1 billion SPAC deal

FaZe Clan, the world's most popular esports and entertainment organization, has announced it is set to become public on the NASDAQ.

Earlier today, FaZe Clan announced a deal to merge with special purpose acquisition company B. Riley Principal Merger Corp, which will see the combined company reach an “equity value of approximately $1 billion.”

The deal with B. Riley Principal 150 Merger Corp will provide $291 million to FaZe, including a private placement in public equity of $118 million and gross proceeds of around $173 million from the special purpose acquisition company's (SPAC) IPO.

A SPAC is a shell company listed on the stock exchange that raises funds with the intention of merging with a private company within two years of floating their shares. The private firm goes public through the merger.

With funding from the business combination, FaZe plans to further diversify its revenue streams with user monetization, expand its global footprint, and grow its presence across content, gaming, entertainment, consumer products, and even the metaverse.

Lee Trink, CEO of FaZe Clan, said, “We are thrilled to announce this important milestone of FaZe Clan’s plans to enter the public market. In our short history, we have evolved from a disruptive content generator to one of the world’s most decorated and successful esports franchises, and now into one of the younger generations’ most recognized and followed brands globally.”


Tesla surpasses $1 trillion as Hertz orders 100,000 vehicles

Tesla’s market valuation hit and then surpassed the $1 trillion mark yesterday, over 11 years after it became a public company.

Tesla met the $1 trillion market cap mark around midday yesterday when shares hit $998.22. Share prices were just below $1,000 and then suddenly soared past it, trading at $1,024 when the market closed, making it the first time the company’s share price reached and traded above $1,000.

The company hit a new all-time high, following the news that rental car company Hertz is ordering 100,000 Tesla vehicles as part of its plans to electrify its fleets. The deal with Hertz will reportedly bring in $4.2 billion for Tesla and is one the largest-ever purchases of electric vehicles, according to Bloomberg.

Tesla CEO Elon Musk has set an annual sales growth target of 50%, on average, eventually reaching 20 million vehicles a year, more than twice the volume of current sales leaders Volkswagen and Toyota.


The Waves

💰 PayPal says it isn't acquiring Pinterest

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🚘 Tesla pulls Full Self-Driving beta due to software issues

👨‍💻 SolarWinds hackers are still attacking tech companies


Creator Special

WinjaLive

WinjaLive is an upcoming Twitch streamer and member of the Valkence family who streams games like Apex Legends, Call of Duty: Warzone, and a variety of other games. This year Winja has taken a year off college to pursue his dream of being a full-time Twitch streamer and content creator.

Arora Creative Studio

Arora Creative Studio is a graphic design studio that offers two main services: logo design and brand design. Its mission is to tailor branding for small female businesses that on its own effortlessly catches the eye of new ideal customers and clients. Arora Creative Studio’s overall goal is for its clients to have a brand/logo that they have 100% confidence in and can use to scale their business.

HaileyAlexiis

Hailey Alexiss is a Canadian streamer, that loves streaming and is constantly striving to grow and be a better streamer. For the most part, Hailey streams Fortnite, so if you’re looking for an entertaining Fortnite streamer, check her channel out.


Clubhouse's new feature will now allow moderators to pin links in rooms

Clubhouse has recently announced that it will be adding a new feature that will allow moderators to pin links at the top of rooms.

Moderators of rooms will now be able to share outside links within a room for listeners to check out. The links that moderators pin at the top of the room can direct listeners to whatever the moderator wants, such as their Patreon pages, a news article, social media accounts, or even podcasts. Certain links will not be allowed due to security and moderation reasons, but Clubhouse CEO Paul Davidson has not yet disclosed the types of links that will not be allowed. 

The new feature will begin to roll out starting on October 27th for both Android and iOS apps. For links that direct listeners to pages where they make a transaction, Clubhouse will not be taking a cut of revenue that occurs through the link. As reported by The Verge, Davidson and his Clubhouse team will be sharing news updates in the coming months on how their app will monetize itself, whether it would be through ticketed rooms or even subscriptions.


Pushing The Wave With Ledger

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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.


Share The Wave

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